SBI Holdings, Solana Foundation Form Strategic Alliance to Build Japan-Led On-Chain Finance Market

SBI Holdings has formed a strategic alliance with the Solana Foundation to help build a Japan-led on-chain financial market.

The Japanese financial group said July 13 that the two sides had entered into the partnership to create an on-chain financial market originating in Japan.

As part of the alliance, the Solana Foundation will join SBI R3 Japan, which plans to change its name to SBI Solana Global. SBI Holdings, Sumitomo Mitsui Financial Group and the Solana Foundation will pursue a new growth strategy through the company.

SBI Holdings said the markets for stablecoins and tokenized real-world assets, or RWAs, are expanding rapidly. It described on-chain finance, in which the issuance, distribution and settlement of financial assets take place on blockchain networks, as a next-generation financial infrastructure.

The company said the partnership's main significance lies in directly linking Japan's deep pool of financial assets, broad market participation and well-developed legal framework with Solana's global network.

It also said it aims to create a Japan-led digital financial asset market and develop Japan into a key hub for on-chain finance in Asia.

SBI Solana Global plans to support the issuance and distribution of stablecoins, including JPYSC, on the Solana network. It also aims to support the creation and distribution of tokenized RWAs, build cross-border payment infrastructure and provide on-chain financial services for institutional investors.

Its business scope will also include developing next-generation payment infrastructure for the era of AI agents.

SBI Holdings and the Solana Foundation said they plan to use Japan as a starting point to connect Asian and global markets and contribute to building new financial infrastructure for the on-chain era.